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Otto Energy Ltd V.OEL


Primary Symbol: OTTEF

Otto Energy Limited is an Australia-based oil and gas exploration and production company, which is focused on the Gulf of Mexico region. The Company’s projects include South Marsh 71 (SM 71), Lightning Field, Green Canyon 21 (GC 21), Mosquito Bay West, Oyster Bayou South and South Timbalier 48. The South Marsh 71 is located in the offshore shallow waters of the Gulf of Mexico. The Lightning Field is located in onshore Matagorda County, Texas. The Green Canyon 21 is located in the offshore deep waters of the Gulf of Mexico. The Mosquito Bay West and Oyster Bayou South are located in the offshore state waters, Terrebonne Parish, Louisiana. The South Timbalier 48 is located in the offshore shallow waters of the Gulf of Mexico. The Company's subsidiaries include GPC Investments SA, Borealis Petroleum Pty Ltd, Otto Energy Alaska (Delaware) LLC, Otto Energy (USA) Inc, Otto Energy (Louisiana) LLC, Otto Energy (Patrick Henry) LLC and others.


OTCPK:OTTEF - Post by User

Bullboard Posts
Comment by ad568on May 17, 2002 3:57pm
86 Views
Post# 5123482

RE: number of shares?

RE: number of shares?Obviously the math was too easy. I made a mistake in the previous posting. The f.d. number is a sliver under 23mil. NOT 30mil. as I had indicated. Here's the stockwatch news release indicating most recently closed financing. Tuesday May 14 2002 News Release Mr. Bernard Robichaux reports Osprey Energy's non-brokered private placement for up to three million units at 40 cents per unit has been oversubscribed by 300,000 units. Each unit consists of one common share and one non-transferable share purchase warrant exercisable at 60 cents for a two-year period until March 27, 2004. Proceeds will be used as working capital and to accelerate the continuing remedial work program on the company's oil and gas properties in Louisiana. Osprey has granted 300,000 incentive stock options priced at 55 cents until Feb. 1, 2004, to directors, consultants and employees of the company.
Bullboard Posts

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